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carter
Student
Tyler, Texas
1
Question
Updated
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How are nurses today, or even students in school, affording their education and managing the loans that they accumulate trying to get their degree? #Spring25
im extremely passionate about becoming a nurse I just want to know how others that are in school or freshly out of school handled the education cost of becoming a nurse.
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2 answers
Dr H
Dr. H's Research
1464
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Australia
Updated
Dr’s Answer
Hey Carter, I totally get why this is on your mind, nursing is such a rewarding field, but the costs can feel overwhelming at times. Here’s a breakdown of how a lot of nursing students and new nurses manage their education expenses and loans which I hope helps clear things out for you even a little.
1. Many nursing programs, hospitals, and organizations offer scholarships specifically for students pursuing nursing degrees. It’s definitely worth applying for as many as you can. Sometimes these scholarships come with the condition that you work in a certain facility or area after graduation, which can be a great opportunity, especially if it’s in a place that really needs nurses.
2. Some students balance part-time jobs in healthcare settings (like working as a CNA or medical assistant) while going through nursing school. This gives you experience, and the pay can help with tuition costs. It might be tough balancing work and school, but it also gives you insight into the real world of healthcare, which is invaluable.
3. Once you're out of school, there are a variety of repayment options for student loans. One of the most common ones is the income-driven repayment plan, which adjusts your loan payments based on your income. Some nurses qualify for loan forgiveness after working in underserved areas for a certain number of years, too.
4. In addition to loans, look into federal and state financial aid. Many states offer special financial aid programs for students in high-demand fields like nursing, and there may be options for you based on your personal or family income.
5.Once you get into a nursing role, some employers offer tuition reimbursement or assistance for further education, which can help you save a lot if you’re planning on continuing your education while working.
6. If you need loans, consider federal student loans first, they often have lower interest rates and better repayment options compared to private loans. Sometimes working for a nonprofit or in certain healthcare settings can help you get loan forgiveness through government programs.
It’s definitely a challenge to manage the costs, but with a strategic approach, it’s very possible to make it work. Your passion for nursing will carry you through, and there are plenty of resources to help you get through this financial hurdle, you just have to get to them since they wont be getting to you buddy.
Research nursing scholarships and grants in your area and online — even some national ones are available.
Explore part-time work options in healthcare that can help you financially and build your resume.
Talk to your school's financial aid office about loan options and repayment programs.
Look into possible job opportunities in hospitals or clinics that offer tuition assistance or loan repayment benefits.
1. Many nursing programs, hospitals, and organizations offer scholarships specifically for students pursuing nursing degrees. It’s definitely worth applying for as many as you can. Sometimes these scholarships come with the condition that you work in a certain facility or area after graduation, which can be a great opportunity, especially if it’s in a place that really needs nurses.
2. Some students balance part-time jobs in healthcare settings (like working as a CNA or medical assistant) while going through nursing school. This gives you experience, and the pay can help with tuition costs. It might be tough balancing work and school, but it also gives you insight into the real world of healthcare, which is invaluable.
3. Once you're out of school, there are a variety of repayment options for student loans. One of the most common ones is the income-driven repayment plan, which adjusts your loan payments based on your income. Some nurses qualify for loan forgiveness after working in underserved areas for a certain number of years, too.
4. In addition to loans, look into federal and state financial aid. Many states offer special financial aid programs for students in high-demand fields like nursing, and there may be options for you based on your personal or family income.
5.Once you get into a nursing role, some employers offer tuition reimbursement or assistance for further education, which can help you save a lot if you’re planning on continuing your education while working.
6. If you need loans, consider federal student loans first, they often have lower interest rates and better repayment options compared to private loans. Sometimes working for a nonprofit or in certain healthcare settings can help you get loan forgiveness through government programs.
It’s definitely a challenge to manage the costs, but with a strategic approach, it’s very possible to make it work. Your passion for nursing will carry you through, and there are plenty of resources to help you get through this financial hurdle, you just have to get to them since they wont be getting to you buddy.
Dr recommends the following next steps:
Christine R.
Registered Nurse
47
Answers
Washington, Washington
Updated
Christine’s Answer
Great question, there are options out there that can help offset things. Federal student loans area great option if you meet the eligibility requirements. Depending on where you end up working there might be a few other potential options. I speak from the point of view who got a little bit of my loans forgiven through the Public Service Student Loan Repayment Program. Also I've been job seeking so some of my tips are based on what I've seen out there.
1. Public Student Loan Forgiveness- now this process can be a bit complicated but you have to be persistent. So for me I had to make 10 years worth of payments and work for an eligible entity. (i.e. non-profit, local, state, or federal government) and submit proof of employment that I had 10 years worth of employment at the eligible entity too. So if you get a job in one of these areas just be sure to keep good records of your HR documents so you can have proof of time that you worked in an eligible entity. The non-profit part do research as this can vary. I worked for the government and that is how I qualified but it still took some persistence of getting stuff submitted.
2. Some hospitals might offer loan-repayment, I know in the area I live in there is apparently such a demand in certain nursing positions the hospital system is offering up to $10K in loan repayment that they will pay on your behalf, now I don't know how long you have to work there to qualify but certainly a good option too! I know as well for the Veterans Administration some positions there they will also offer incentives to help pay down loans in certain positions, and even if your position doesn't qualify for that, your time working at the Veterans Admin would make you eligible for #1.
3. Nurse Corps and National Health Service Corps. Here is the link to the program https://bhw.hrsa.gov/funding/apply-loan-repayment/nurse-corps this is a great option as well, there are specific eligibility and time requirements you must adhere to in order to qualify which they go over in good detail on the website. The National Health Service Corps is for doctors, APRNs, PA's, dentists, mental health providers.
I know leaving school with a lot of debt can be daunting but also if you have federal student loans be sure to look into the income driven repayment program as well. I had federal student loans for both undergraduate and grad school, the other nice thing is there were times i had to defer my loans and I was able to do that for brief periods which was helpful.
Wishing you the very best and I hope that one of these options will help you!
1. Public Student Loan Forgiveness- now this process can be a bit complicated but you have to be persistent. So for me I had to make 10 years worth of payments and work for an eligible entity. (i.e. non-profit, local, state, or federal government) and submit proof of employment that I had 10 years worth of employment at the eligible entity too. So if you get a job in one of these areas just be sure to keep good records of your HR documents so you can have proof of time that you worked in an eligible entity. The non-profit part do research as this can vary. I worked for the government and that is how I qualified but it still took some persistence of getting stuff submitted.
2. Some hospitals might offer loan-repayment, I know in the area I live in there is apparently such a demand in certain nursing positions the hospital system is offering up to $10K in loan repayment that they will pay on your behalf, now I don't know how long you have to work there to qualify but certainly a good option too! I know as well for the Veterans Administration some positions there they will also offer incentives to help pay down loans in certain positions, and even if your position doesn't qualify for that, your time working at the Veterans Admin would make you eligible for #1.
3. Nurse Corps and National Health Service Corps. Here is the link to the program https://bhw.hrsa.gov/funding/apply-loan-repayment/nurse-corps this is a great option as well, there are specific eligibility and time requirements you must adhere to in order to qualify which they go over in good detail on the website. The National Health Service Corps is for doctors, APRNs, PA's, dentists, mental health providers.
I know leaving school with a lot of debt can be daunting but also if you have federal student loans be sure to look into the income driven repayment program as well. I had federal student loans for both undergraduate and grad school, the other nice thing is there were times i had to defer my loans and I was able to do that for brief periods which was helpful.
Wishing you the very best and I hope that one of these options will help you!